According to The Nation Thailand, the Securities and Exchange Commission of Thailand has filed a criminal complaint against the digital asset exchange Bitkub and two of its former directors with the Economic Crime Suppression Division, alleging false statements in their daily net capital reports following a 2021 cyberattack that resulted in the theft of approximately 1.7 billion Thai baht in digital assets. Regulators believe that Bitkub failed to accurately reflect asset losses and related changes between May and October 2021.
Thai SEC Files Criminal Complaint Against Bitkub and Two Former Directors Over 2021 False Reporting
TechFlowShare
Summary
The Thai SEC has filed a criminal complaint against Bitkub and two former directors for false reporting in the digital asset market. The regulator alleges that the exchange submitted inaccurate daily net capital reports following a 2021 hack in which 1.7 billion baht was stolen. The false reports, covering May to October 2021, failed to account for asset losses and associated changes. The case could affect investor sentiment and the Fear & Greed Index in the region.
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